USD 2.66 billion
Report ID: SQSG45I2041 | Region: Global | Published Date: December, 2022 | Pages: 157
Global Wi-Fi 6 Market size was valued at USD 2.66 billion in 2021 and is expected to reach USD 6.03 billion by 2028, at a CAGR of 12.39% during the forecast period (2022-2028).
Wi-Fi 6 offers faster and more reliable connectivity solutions, as well as the ability to handle extremely high network traffic volumes, allowing a greater number of smartphones, laptops, cameras, displays, smart speakers, and other Internet of Things (IoT) and personal devices to be seamlessly connected and communicate with one another. The growing emphasis among major companies to incorporate virtual assistants, such as Siri from Apple, Alexa from Amazon, and Google Assistant, into Wi-Fi 6 routers is expected to open up significantly lucrative revenue opportunities in the market. Wi-Fi 6 devices help to extend the reach of these virtual assistants by allowing them to communicate with smart stereos, smart TVs, and other microphone-enabled network devices, resulting in a more responsive and richer user experience.
The manufacturing sector is increasingly adopting contemporary technologies including wireless cameras, collaborative robots, and augmented reality/virtual reality (AR/VR). Improved wireless network connectivity is necessary for these devices to operate without interruption. In order to provide uninterrupted services, emerging e-learning trends at universities and in schools throughout the world require a unified network connectivity.
Global Market Size
USD 2.66 billion
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Global Wi-Fi 6 market is segmented based on offering, location, vertical, and region. Based on offering, the market is sub-segmented into solution, services, and hardware categories. Based on location type the market is divided into indoor and outdoor. Based on verticals, the market is segmented into government, consumer electronics, education, manufacturing, and healthcare. Based on region, the market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Analysis by Offering
The solution, services, and hardware categories make up the offering category. With the biggest market share of 35% and the highest market value of 3.44 billion in 2021, the service sector led the market. Wi-Fi network providers use a subscription-based business model to offer a variety of services. With Wi-Fi 6, businesses and service providers may support new and developing applications on the same Wireless Local Area Network (LAN) infrastructure while still offering customers high-quality service.
Analysis by Location Type
There are two categories of location type, indoor, and outdoor. With the biggest market share of 57% and the highest market value of 5.60 billion in 2021, the outdoor sector led the market. Outdoor Wi-Fi 6 operates at frequencies of 2.4 or 5 GHz and has a throughput of up to 1.7 Gbps. Actual throughputs rely on consumer devices and the kind of wireless access points. Several antennas that are focused on the wireless range for a specific place are typically used to deploy outside access points.
Analysis by Vertical
Government, consumer electronics, education, manufacturing, and healthcare comprise the vertical segment. Consumer electronics held the greatest market share of 27% and generated 2.65 billion in market value in 2021, dominating the industry. The significant market share of the sector is due to Wi-Fi 6's fast data transfer speeds, multi-device connectivity, longer battery life, and reduced terminal device power consumption.
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Asia-Pacific held the largest global Wi-Fi 6 market share. The adoption of Wi-Fi 6 is expanding quickly in Asia-Pacific as a result of rising consumer demand for the internet, an increase in the number of connected devices, and a strong demand for public Wi-Fi hotspots.
China, Japan, India, and South Korea are among the nations that have embraced Wi-Fi 6 technology the most. Numerous public and private enterprises have been urged to use Wi-Fi 6technology throughout the area as a result of the development of extremely sophisticated Wi-Fi 6 devices with high-speed data, longer battery life, and extensive Wi-Fi coverage.
By 2022, Cisco projects that 62.1% of people in Asia-Pacific will be internet users. By 2022, there will be 260.6 million Wi-Fi hotspots available to the general public (including residential spots). Additionally, by 2022, fixed/Wi-Fi IP traffic will account for 58.0% of all Internet traffic, or 89.9 EB per month. Therefore, the need for Wi-Fi 6 technology is projected to increase over the next several years as a result of the expansion in internet usage and public hotspots.
For the participants in this market, the development of Wi-Fi 6 devices by organizations like Huawei, Commonscope, Huawei Technologies Co., Ltd., TP-Link Corporation Limited, D-Link Corporation, and AsusTek Computer Inc. has opened up a number of chances. For instance, in May 2020, Huawei introduced ten brand-new AirEngine Wi-Fi 6 series models for the Asia Pacific region. These models will improve services for businesses and are perfect for building a premium fully-wireless campus as the new cornerstone for businesses' digital transformation.
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To take advantage of these new prospects, telecom firms are heavily investing in enhanced Wi-Fi solutions, which may offer the necessary connectivity bandwidth, security, and network dependability. As telecom firms boost their expenditures in wireless network infrastructure, the market is anticipated to grow.
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The leading players are currently concentrating on implementing tactics like product innovations, mergers & acquisitions, latest advancements, joint ventures, collaborations, and partnerships to improve their market position in the global Wi-Fi 6 Market. For instance, Marvell's wireless connectivity portfolio was purchased by NXP Semiconductors in May 2021 for USD 1.76 billion. Marvell's Bluetooth and Wi-Fi (including Wi-Fi 6) technology portfolio and related assets make up the strategic purchase. The purchase would also assist NXP in diversifying its Wi-Fi 6 chipset solutions across important application domains including industrial, IoT, and automotive.
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In line with our Global wifi 6 market analysis, it has been determined that a rapidly rising demand for extremely dependable and low-latency data networks that can support wireless integration, as well as a rising need for fast data networks with a latency of less than 1 ms to guarantee seamless connectivity for mission-critical applications like Machine-to-Machine (M2M) communication, will propel market growth over the forecast period.
|Market size value in 2021||USD 2.66 billion|
|Market size value in 2028||USD 6.03 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Wi-Fi 6 Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Wi-Fi 6 Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Wi-Fi 6 Market:
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